The board of directors of the Hilong Holding Limited has recently entered into a 6-month contract with XTO Energy Inc. in relation to the provision of coating services for 2.2 million feet of oil tubing. The total consideration for such contract is approximately $6.4 million. In addition, the Board announced that the Group has recently entered into drill pipe supply contracts with Ensign US Southern Drilling LLC and Ensign United States Drilling Inc., respectively.

The total consideration for the drill pipe supply contracts is $14.0 million. The aggregate consideration for all the above contracts is $20.4 million.